Resources & Publications

Strategic Finance July 2006

July 2006
Click on article titles to download FREE PDFs.

Features

Fix the Process, Not the People
Renee Cveykus and Erin Carter, CPA
After successfully optimizing processes in about 800 manufacturing and operational projects worldwide, Medtronic, Inc. recently proved that its unique "Lean Sigma" formula is applicable to any process, including financial business transactions. By applying a kaizen, an accelerated week-long improvement event, to five global accounts payable scenarios, Lean Sigma teams achieved measurable results, empowering employees and changing old paradigms in the process.


Making the Cost of Quality Practical
Steve Ball
Quality is a company-wide concern because when decisions impacting quality are made in one division, they may generate costs in another division, typically downstream. A COQ system developed from the bottom up is more likely to yield data for action and a sufficient understanding for driving operational decisions.


COSO at a Crossroad
Lawrence Richter Quinn
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) labored long and hard to produce its Enterprise Risk Management Integrated Framework, but is this model at risk of being shunted aside by nimbler, more popular competitors? One positive sign: Despite its perceived weaknesses, studies show that companies outside the U.S. are adopting it at a level higher than in the country where it was introduced in 2004.


Closing Pandora's Box 
Ramona Dzinkowski
Costs of complying with the Sarbanes-Oxely Act have far exceeded forecasts, and something needs to be done about it. That was the consensus of a roundtable in May hosted by the Public Company Accounting Oversight Board and the U.S. Securities & Exchange Commission. One business executive complained that SOX impels management to become "so focused on value protection that they're not creating value."


When Knowledge Isn't Power: Why CFOs and Controllers Complain about Their Jobs 
Paul Kunin, CPA
CFOs and controllers have the most knowledge about their company's finances but not the power-hence the frustration and sometimes anger at the boss for not listening to their advice. The solution, according to this headhunter: Controllers and CFOs should control their own careers by finding a company that values and uses their knowledge.

Columns

PERSPECTIVES
Strengthening our voice for management accountants.


BEST PRACTICES
Lucky mud.


CAREERS 
Myth busters: breaking through workplace misconceptions.


TAXES 
Integrating tax and nontax components of projects.


ETHICS
Five levees for improving ethical performance.


ACADEMIC CORNER
A nontraditional approach to undergraduate accounting.

Departments

STREETWISE
IFAC publishes business plan guide
View SEC reports via the Web
MERLOT: to blend or not to blend
Sarbanes-Oxley reform bill
Books: Managing innovation


TOOLS OF THE TRADE
Traveling tunes and data.


TECH FORUM
A moment to last three centuries.


END NOTE
Stat hacking.


Back

Join Today

Start receiving the value enjoyed by more than 70,000 accounting professionals worldwide. Join now.

If you are already an IMA member, please log in now.

Subscribe

Click here to subscribe to Strategic Finance as a nonmember.

Order Back Issues

Print copies of Strategic Finance are available for $18 for nonmembers.

Back Issues Order Form


© 1997–2014, Institute of Management Accountants, Inc.   10 Paragon Drive, Suite 1, Montvale, NJ 07645-1760   (800) 638-4427 or +1 (201) 573-9000 

Site Map  |  Site Help and FAQ  |  IMA Policies